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Euro Drops for First Time in Month on a Reduced ECB Interest Rate Outlook

From bloomberg.com

The euro fell versus the dollar for the first time in almost a month after the European Central Bank revised its inflation forecast, signaling the pace of interest- rate increases this year may slow. The shared currency depreciated this week as ECB President Jean-Claude Trichet resisted calls for Greek bondholders to contribute to financial aid for the nation. The dollar rose for the first time in four weeks against its six major trading partners and the yen gained against the greenback for a third week as stocks and commodities fell, driving investors to haven assets. Retail sales in the U.S. may have dropped in ... (full story)

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